Bulk Acoustic Wave Devices Market: Popular Trends & Technological advancements to Watch Out for Near Future
TDK Corporation, the dominant share holder in the global Bulk Acoustic Wave Devices Market in 2016, has recently established R&D centers in the U.S. and China. Murata Manufacturing Co., Ltd., has increased its portfolio of electronic components by acquiring companies such as Peregrine Semiconductor Corporation and RF Monolithics.
Transparency Market Research estimates that the global BAW devices market will exhibit a promising 9.3% CAGR from 2017 to 2025, rising from a valuation of US$860.4 mn in 2016 to US1869.6 mn by 2025.
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BAW Filters to Remain Most Consumed BAW Devices
In terms of device type, the market segment of bulk acoustic wave filters is presently the leading contributor of revenue to the global market. The segment had a valuation of nearly US$510.6 mn in 2016 and is expected to remain the most in-demand bulk acoustic wave device type in the next few years as well. The segment is expected to exhibit a promising 9.3% CAGR from 2017 to 2025. The increased demand for BAW filters owing to their vast benefits over the traditional surface acoustic wave filters is attributable to the strong growth prospects of this segment.
In terms of geography, the Asia Pacific market is the leading regional market in terms of revenue contribution to the global market and is expected to exhibit strong growth over the forecast period. The thriving consumer electronics and telecommunications industries in the region will provide the needed growth opportunities for BAW devices.
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Rising Adoption of Automated Vehicles to Fuel Demand for BAW Devices
Some of the key factors driving the global market for bulk acoustic wave devices are the increased numbers of network operators introducing 4G technology, the rising adoption of this high-speed wireless networking technology from consumers and the rising applications of BAW devices in the automotive industry. The rising applications of BAW devices in the automotive industry have provided a major boost to the global market in the past few years and the factor continues to remain one of the key drivers of the market presently as well.
In a bid to gain advantage over their competitors in the intensely competitive automotive market, leading automobile manufacturers such as Mercedes, BMW, Toyota, and Audi are developing products capable of integrating with smart devices such as GPS systems, smartphones, and infotainment systems. Such connected vehicles present ample opportunities for use of bulk acoustic wave devices. Hence, the rising demand for connected vehicles is also expected to drive the global bulk acoustic wave devices market in the near future. In addition, the development of automated vehicles is expected to drive the market growth in the near future. Further potential integration of bulk acoustic wave devices into active integrated circuit is another key opportunity for the market growth in the near future.
This review of the global bulk acoustic wave devices market is based on a recent market research report published by Transparency Market Research, titled “Bulk Acoustic Wave Devices Market (Devices - Filters, Resonators, and Transducers; End-use Industry - Aerospace & Defense, Telecommunication, Environmental and Industrial, Automotive, Consumer Electronics, and Healthcare and Medical) - Global Industry Analysis Size Share Growth Trends and Forecast, 2017 - 2025.”
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For the study, the market has been segmented as follows:
Bulk Acoustic Wave Devices Market, by Devices
Bulk Acoustic Wave Devices Market, by End Use Industry
Aerospace & Defense
Environment and Industrial
Healthcare & Medical
Bulk Acoustic Wave Devices Market, by Geography:
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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